Saudi Arabia Plastics&Plastic Industry Outlook Analysis

Statistical data predicts that by 2024, Saudi Arabia's consumer goods production will reach 56 billion US dollars. The use of plastic packaging spans multiple manufacturing processes. The increase in usage of 1320 food and beverage factories, over 200 textile and clothing factories, and 40 pharmaceutical factories, along with 10000 other manufacturing factories, is driving strong demand for plastic packaging in Saudi Arabia, with the market size expected to rise from $7.84 billion in 2023 to $9.01 billion in 2028.

The Saudi PE pipeline market is expected to reach approximately 192286.88 tons in 2023. It is expected that the compound annual growth rate of the market will be 5.7% from 2024 to 2032, and the sales volume will reach around 266870.48 tons by 2032. The constantly developing infrastructure construction, wastewater recycling, and seawater desalination projects are driving the development of the entire industry. Downstream raw material suppliers in the petroleum industry are facing a huge development market.

The investment in the plastic industry is estimated to account for approximately 2.6% of the total investment in the industrial sector. The total investment is 9.3 billion US dollars, involving over 1300 factories, and Saudi Arabia's plastic materials and manufacturing industry is experiencing exponential growth. Due to its various uses in fields such as food, clothing, automotive parts, marine and medical supplies, plastic has become a cutting-edge product in the industrial sector. With the economic growth of Saudi Arabia, the demand for imported and locally produced packaging machinery and material suppliers is also increasing.

The global antibacterial plastic market is expected to grow from $43.94 billion in 2023 to $73.65 billion in 2030, with a compound annual growth rate of 7.7% during the forecast period. Plastics containing antibacterial additives have better performance than traditional plastics. The antimicrobial and antibacterial properties of these plastics improve the durability and hygiene of food packaging films, medical equipment, children's toys, kitchen utensils, electronic devices, and piping products. Especially in the rapidly growing food processing sector, the annual compound growth rate of the Saudi engineering plastics market is expected to be 7.66%. It is expected that by 2029, the market value will reach 1.9 billion US dollars. One of the main driving forces for accelerated market growth is the increase in usage in the packaging, electrical, electronics, and construction industries. The growing retail market and population are driving resin consumption in Saudi Arabia, creating business opportunities for suppliers of machinery, materials, and related equipment.